OneDigital Investment Advisors LLC Decreases Position in Tesla, Inc. (NASDAQ:TSLA)

OneDigital Investment Advisors LLC lowered its position in Tesla, Inc. (NASDAQ:TSLA) by 5.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,073 shares of the electric vehicle producer’s stock after selling 2,203 shares during the quarter. OneDigital Investment Advisors LLC’s holdings in Tesla were worth $9,090,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Eagle Capital Management LLC purchased a new stake in Tesla during the 4th quarter worth about $331,000. Brighton Jones LLC boosted its stake in shares of Tesla by 11.8% during the 4th quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer’s stock worth $35,509,000 after purchasing an additional 9,293 shares during the last quarter. Revolve Wealth Partners LLC grew its holdings in shares of Tesla by 21.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer’s stock worth $2,147,000 after buying an additional 931 shares in the last quarter. Mascagni Wealth Management Inc. acquired a new position in shares of Tesla in the fourth quarter valued at approximately $346,000. Finally, Highview Capital Management LLC DE purchased a new position in shares of Tesla during the fourth quarter valued at approximately $2,367,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on TSLA. TD Cowen raised shares of Tesla from a “hold” rating to a “buy” rating and lifted their target price for the stock from $180.00 to $388.00 in a research note on Friday, March 7th. Argus reaffirmed a “hold” rating on shares of Tesla in a research report on Monday, June 9th. The Goldman Sachs Group increased their target price on Tesla from $285.00 to $315.00 and gave the stock a “neutral” rating in a research report on Thursday. Mizuho lifted their price target on Tesla from $325.00 to $390.00 and gave the company an “outperform” rating in a report on Friday, May 16th. Finally, Glj Research reaffirmed a “sell” rating and set a $19.05 price objective (down previously from $24.86) on shares of Tesla in a research note on Monday, April 21st. Ten equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $301.24.

Tesla Stock Down 0.7%

NASDAQ TSLA opened at $313.56 on Friday. The company has a quick ratio of 1.54, a current ratio of 2.00 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a fifty-two week low of $182.00 and a fifty-two week high of $488.54. The business has a 50 day moving average price of $320.93 and a two-hundred day moving average price of $325.92. The stock has a market cap of $1.01 trillion, a PE ratio of 172.29, a P/E/G ratio of 9.17 and a beta of 2.39.

Tesla (NASDAQ:TSLA) last posted its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26). The firm had revenue of $19.34 billion for the quarter, compared to analyst estimates of $22.93 billion. Tesla had a return on equity of 9.02% and a net margin of 6.66%. During the same period in the previous year, the firm posted $0.45 earnings per share. As a group, sell-side analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 6,000 shares of the firm’s stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $341.02, for a total transaction of $2,046,120.00. Following the completion of the sale, the chief financial officer directly owned 1,950 shares in the company, valued at $664,989. This trade represents a 75.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of Tesla stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total value of $170,636,475.60. Following the sale, the director directly owned 855,394 shares in the company, valued at approximately $305,632,276.20. The trade was a 35.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 833,509 shares of company stock worth $278,648,925 over the last three months. Insiders own 20.70% of the company’s stock.

Tesla Profile

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.